Market News

Midday cash livestock markets

Bids and asking prices in feedlot country are few and far between. However, a few early showlists have been priced around 128.00 to 129.00 in the South, and 204.00 in the North. The new showlists distributed on Monday looked generally larger than last week with only Kansas feedlots offering fewer ready steers and heifers.

Boxed beef cutout values are mixed in the morning report. Choice beef 220.32, down .23, select 213.85, up 1.52.

The Oklahoma National Stockyards on Monday had receipts of 7,100 feeder cattle. Compared to last week feeder steers and steer calves traded steady to 3.00 higher. Feeder heifers and heifer calves were mostly 2.00 to 4.00 higher except 6 weights 6.00 higher. The demand was moderate to good for feeders. The demand continues to be very good for thin fleshed cattle headed to grass. Quality was plain to attractive. Feeder steers medium and large 1 averaging 719 pounds brought 136.00 per hundredweight. 727 pound heifers traded at 122.69.

The Rock valley Hay Auction sale on Monday had 23 loads. The market continued to sell at weaker price levels with light buyer interest. Blizzard like conditions on Sunday brought 3 to 4 inches of snow with high winds to the area. Fair large squares of alfalfa traded at 80.00 per ton. Large rounds at 75.00. Good large rounds of grass 49.00 to 60.00 per ton. Large rounds of straw from 60.00 to 72.50.

Barrows and gilts in the Iowa/Minnesota direct trade are sharply lower according to the morning report. Down 5.04 at 62.80 weighted average on a carcass basis, The West is down .13 at 67.61, and nationally the market is down .67 at 66.34. Missouri direct base carcass meat price is steady to 1.00 lower from 58.00 to 61.00. Midwest hogs are steady to 1.00 higher from 43.00 to 50.00.

The pork carcass cutout value is up 1.46 at 83.82 FOB plant. All cuts are higher with the belly primal up the most.

The pork carcass cutout value moved higher on Monday afternoon helped by all primals except the rib. Particular strength was contributed by the rib cuts and picnics.

With the March 1 Hogs and Pigs report scheduled for release on March 30 many are expecting to see further confirmation of herd expansion. It may be very difficult to build deferred lean premiums at this time according to DTN analysts.